A 15-year, annual coupon bond is priced at $984.56.The bond has a $1,000 face value and a yield to maturity of 6.5 percent.What is the coupon rate?
A) 3.17 percent
B) 2.50 percent
C) 6.74 percent
D) 6.38 percent
E) 6.34 percent
Correct Answer:
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